Did you know that 1 out of every 5 home purchases are made by a single female?
It’s actually 1 out of 4 between the ages of 54-63!
Single women now make up the 2nd largest group of buyers behind married couples & they’re buying property at twice the rate of single men.
NAR Data 2018 (Single women in green below):
Are you missing out on this market here in metro New Orleans because of how you’re marketing or the products you’re using?
Here are our best tips in both areas!
- Talk about safety – Safety is a big motivating factor for single women… and not just for the property they’re considering buying. Yes, alarm systems, cameras, gates & security features make a difference, but don’t forget to make sure to address safety when it’s time to look at properties, where you’ll meet them, etc.
- Talk about money – Statistics show that women still don’t earn the same amount as men, so make sure to include lots of information that appeals to women on a budget including taxes and insurance, homeowners association dues, the benefits of home warranties & energy saving features a home might have.
- Double down with online marketing – Nearly 95% of women, especially younger ones, use the internet as part of the home buying process. Even if they find you through a referral, they’re likely to evaluate whether or not to work with you based on what they find online.
- Show a variety of listings – While it’s tempting to showcase your high dollar listings, remember to show a variety of listings that might suit women looking to buy their own homes.
Statistically speaking, this means that women buyers might benefit from down payment assistance programs at a higher rate than male buyers, so it’s time to study up on programs like FHA and VA.
Of course, there are plenty of women who qualify for conventional financing, and our experience is that they’re good, smart negotiators – so be ready with your best deal!